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Boosted by tech stocks, Norway wealth fund earned $123 billion in 2020

Norway's $1.3 trillion sovereign wealth fund is the world's largest

Prudential drops Jackson IPO in favour of demerger, may raise $2.5-3 bn

Former MetLife CEO Steven Kandarian will become non-executive chair of Jackson from Feb 1, Prudential said

Toyota beats Volkswagen to become World's No.1 car seller in 2020

The pandemic demand slump hit Volkswagen harder

China opposes discriminatory actions by India against Chinese firms

China's remarks relate to India's continued ban on 59 Chinese apps

Apple becomes biggest smartphone seller with record 90.1 mn shipments

Data from research firm IDC showed Apple's shipments surged 22 per cent to a record 90.1 million phones in the quarter

Facebook beats quarterly revenue estimates; monthly active users up 12%

The results validate the company's foray into e-commerce with Instagram Shopping and Facebook Marketplace that banked on the trend of social shopping

Tesla profit, vague vehicle delivery forecast disappoint Wall Street

Investors had hoped for a significant increase over the company's 2020 delivery goal of half a million vehicles, but Tesla provided only a vague outlook and did not state a concrete delivery goal.

Biden takes sweeping steps to curb climate change, vows job creation

The orders map out the direction for the Democratic president's climate change and environmental agenda and reverse the policies of his Republican predecessor, Donald Trump

Apple tops Wall Street expectations on record iPhone revenue, stock gains

Apple shipped its iPhone 12 lineup several weeks later than usual, but an expanded number of models and new look appear to have tapped into pent up demand for upgrades, especially in China

Fed remains in crisis-fighting mode as recovery appears to moderate

Monetary policy likely on hold for foreseeable future; Fed chief Powell says vaccination program key to economy

Global Covid cases surpass grim 100-million milestone; 2.1 million dead

Almost 1.3 per cent of the world's population has now been infected with Covid-19

Complacency in markets because of continued monetary support: IMF

The rollout of Covid-19 vaccines has boosted expectations of a global recovery and helped prompt a surge in asset prices

Chinese smartphone brands expanded India market share in 2020: Report

India's next biggest phone brands were Vivo, Realme and Oppo - all Chinese - data from Counterpoint showed.

Fiat to plead guilty, pay $30 mn to resolve US criminal labour probe

The automaker has also agreed an independent compliance monitor for three years

S&P, Dow slide after Boeing results; Nasdaq fall cushioned by Microsoft

Declines were across the board in early trading, with 10 of the 11 major S&P 500 sectors in negative territory

Oil slips as Covid-19 and demand concerns weigh ahead of supply report

American Petroleum Institute said on Tuesday that US crude inventories fell by 5.3 million barrels. Analysts expect them to rise in a Reuters poll ahead of official inventory figures due at 1530 GMT

Imperial Brands to focus on top five cigarette markets in turnaround plan

The maker of Kool and Winston cigarettes said it was also "resetting" its next-generation products (NGP) strategy

AT&T takes $15.5 billion charge on DirecTV, adds more phone customers

AT&T purchased DirecTV for $68 billion including debt in 2015

Wall Street opens lower with earnings underway, eyes on Federal Reserve

The Dow Jones Industrial Average fell 43.3 points, or 0.14%, at the open to 30893.78

Amazon set to launch in Poland, shares in e-commerce rival Allegro fall

Poland's growing e-commerce market was given a further boost from online shopping during the pandemic and in October, home-grown eBay rival, Allegro, enjoyed a buoyant stock market debut